B.Com/BBA Essentials of Management April 2024

Description

Essentials of Management

April 2024 Examination

 

 

Q1. City Gas Ltd. is planning to venture in developing Ethanol based fuel in order to diversify into a new area. With the help of Porters 5 forces model can you guide them about the same whether they should enter the business or not?     (10 Marks)

Ans 1.

Introduction:

City Gas Ltd.’s contemplation of venturing into the development of Ethanol-based fuel marks a strategic decision aimed at diversification. Before embarking on this endeavor, it is imperative to assess the industry’s attractiveness and competitive landscape. Porter’s Five Forces model provides a structured framework for such analysis, enabling informed decision-making regarding market entry. This model evaluates the bargaining power of suppliers and buyers, the threat of new entrants and substitutes, and the intensity of rivalry among existing competitors. Through the lens of this model, City Gas Ltd. can gain insights into the dynamics shaping the Ethanol- It is only half solved

 

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Q2. Rajeshree Mills is planning to setup a new mill in the outskirts of Mumbai as its production needs to be increased. As a consultant can you please guide them about the steps involved in the planning process of the same    (10 Marks)

Ans 2.

Introduction:

The decision to establish a new mill signifies a crucial phase in the growth trajectory of Rajeshree Mills, especially given the imperative to scale up production. Planning is pivotal in ensuring that this venture is executed effectively, considering the multifaceted aspects involved in setting up a new facility. In this context, understanding the intricacies of the planning process becomes indispensable. This essay aims to delineate the key steps involved in the planning process for Rajeshree Mills’ new mill on the outskirts of Mumbai. By comprehensively addressing each step, Rajeshree Mills can navigate through the complexities and uncertainties

 

Q3. Rajkamal Handlooms have suffered a lot of late due to poor and inefficient decisions taken by the middle and lower management. Hence, they have hired you as a consultant

1. a) Can you explain them the Normative Approach Theory to help take better decisions? (5 Marks)

Ans 3a.

Introduction:

In the wake of challenges stemming from poor decision-making within the middle and lower management tiers, Rajkamal Handlooms seeks to revamp its approach to decision-making. As a consultant, introducing the Normative Approach Theory can offer a structured framework to facilitate better decisions, thereby enhancing organizational effectiveness and performance.

Concept and application

The Normative Approach Theory provides a prescriptive framework for decision-making, focusing on identifying and selecting optimal courses of action based on rational criteria. This approach emphasizes